Pennsylvania's easing of rules for donation apps should set a precedent

Payments Source

A court decision brings much needed clarity to the complex world of money transmitter licensing by holding that the transmission of information alone is not engaging in the business of money transmission under Pennsylvania law, writes Anita Boomstein, a partner with Manatt, Phelps & Phillips, LLP.

Pennsylvania bank begins CEO search after leader's abrupt departure

American Banker

Community banking Succession planning Growth strategies PennsylvaniaPatrick O'Brien had been CF Financial's president and CEO for about two years.

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Citizens & Northern in Pennsylvania lines up another acquisition

American Banker

Community banking M&A Growth strategies PennsylvaniaThe company, which recently bought Monument Bank, has agreed to acquire Covenant Financial.

Fidelity D & D entering Pennsylvania market with MNB acquisition

American Banker

Community banking M&A Capital Growth strategies PennsylvaniaThe company will gain branches in Northampton County as part of the $79 million deal.

Pennsylvania’s payment regulation will tighten construction transaction controls nationwide

Payments Source

ISO and agent B-to-B payments Payment processing Compliance reviews PennsylvaniaIt is important that all parties involved in construction projects not only be aware of these regulation updates and how they will impact their projects, but also what they can do to prepare for when the legislation inevitably reaches them, writes Matt Johner, president and co-founder of BankLabs.

DA’s Office In Pennsylvania Pays Ransom In Bitcoin

PYMNTS

At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. The Forbes report noted that the data attack on the District Attorney’s office in Pennsylvania could be payback for the IRS’ actions.

Pennsylvania all-stock deal inked

ABA Community Banking

Mid Penn, First Priority Financial to merge in $82 million deal Management CSuite Community Banking M&A. 1Management

NexTier in Pennsylvania Lines Up Next Chief

American Banker

NexTier Bank in Butler, Pa., has tapped its chief operating officer as its next leader. people breaking_news pa succession-planning community-banking

Pennsylvania Attorney General solicits redlining complaints from consumers

CFPB Monitor

As part of an investigation launched earlier this year into allegations of redlining in the Philadelphia area, the Pennsylvania Attorney General Josh Shapiro recently called on mortgage borrowers and home loan applicants in the Philadelphia area to file complaints with his office “if they believe they may have been victims of redlining or experienced irregularities when looking for a mortgage or home loan.”.

An Exclusive Interview with Nicholas Smyth, Leader of the Pennsylvania Office of Attorney General’s Consumer Financial Protection Unit

CFPB Monitor

Pennsylvania has one of the most active Attorney General offices when it comes to bringing cases against financial companies.

Former Pennsylvania Secretary of Banking Lays Down Ideas on How to Lover Your Regulator

Jeff For Banks

Glenn Moyer, the former Secretary of the Pennsylvania Department of Banking and Securities (pictured), spoke at a banking industry event this past week.

CFPB September 2016 complaint report highlights money transfer complaints, complaints from Pennsylvania consumers

CFPB Monitor

The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. Findings regarding complaints from Pennsylvania consumers include the following: As of September 1, 2016, approximately 34,700 complaints were submitted by Pennsylvania consumers of which approximately 69 percent (about 24,100) were from Philadelphia consumers. Barbara S. Mishkin.

Norwood entering upstate New York with latest bank acquisition

American Banker

The Pennsylvania company will pay $80 million for the parent of USNY Bank. Community banking M&A Capital Growth strategies Pennsylvania New York

BB&T's Dealmaking Spurs Disruption in Pennsylvania

American Banker

At least three community banks have hired lenders who once worked at banks bought by BB&T. The question is whether those lenders can coax their clients to also make a switch. recruitment m-a dealmaking-strategy pa consolidation small-business commercial-lending community-banking

CNB expanding western New York operations with Bank of Akron deal

American Banker

The Pennsylvania company will pay $65 million for six branches that will join its Buffalo, N.Y., Community banking M&A Growth strategies Pennsylvania New Yorkdivision.

Codorus Valley warns of loan loss after alleged borrower fraud

American Banker

The Pennsylvania company said it faces $7.5 Fraud Earnings Community banking Credit quality Pennsylvaniamillion in potential exposure from a commercial lending relationship.

NexTier to Buy Manor Bank in Pennsylvania

American Banker

The $1.2 billion-asset NexTier said in a press release Wednesday that it will pay $2.3 million, or $531.55 a share, in cash for the $40 million-asset Manor. breaking_news community-banking pa dealmaking-strategy

Amid pandemic, state elected officials become de facto bank regulators

American Banker

Consumer lending Massachusetts California Coronavirus Loan modifications Pennsylvania Law and regulation

Prudential Bancorp to Buy Polonia in Pennsylvania

American Banker

Prudential Bancorp in Philadelphia has agreed to buy Polonia Bancorp in Huntingdon Valley, Pa. The $538 million-asset Prudential said in a press release Thursday that it will pay $38.1 million in cash and stock for the $312 million-asset Polonia. The deal is expected to close in the fourth quarter. Prudential said it expects "modest" tangible book value dilution that it should earn back in a year.

Prudential Bancorp in Pennsylvania Selects New Chief

American Banker

Prudential Bancorp in Philadelphia has a new chief executive. breaking_news people pa community-banking

Pro-cash laws gathering momentum in N.J., Philadelphia

Payments Source

Retailers Compliance Digital payments Cash New Jersey PennsylvaniaThe pushback on stores that don’t accept cash seems to be gaining momentum, with Philadelphia the latest municipality to consider a law that would ban cash-free shops.

Northwest Bancshares in Pennsylvania to Buy Insurance Agency

American Banker

Northwest Bancshares in Warren, Pa., has agreed to buy Winans Insurance & Employee Benefits in Warren. breaking_news community-banking pa dealmaking-strategy

Accept cash, credit card or mobile payment? Government wants a say

Payments Source

Digital payments Contactless payments Credit cards Mobile payments Pennsylvania New Jersey CaliforniaState and local officials have pushed back against retailers that don’t take cash, and now some are pressuring electric vehicle firms to expand payment options at charging stations.

Community Bank History: Peoples National Bank, Hallstead, Pennsylvania

Jeff For Banks

And so it went in Hallstead, growing gradually, as towns tended to do in rural Pennsylvania, with bank loans funded by local depositors supporting the growth. Community banks tout themselves as better than national and regional banks because of how close they are to their communities.

How Customers Bancorp learned to stop worrying about Durbin and love growth

American Banker

Community banking Succession planning CECL PennsylvaniaThe company, which just hired CEO Jay Sidhu's son to groom as its next chief, had been holding itself back to avoid caps on interchange fees.

Bankers try on second hats — as economic forecasters

American Banker

Economy Growth strategies Community banks Rhode Island California Pennsylvania

Fulton in Pa. revises 4Q profit after commercial loan becomes uncollectable

American Banker

Community banking Credit quality Commercial lending PennsylvaniaA large charge-off and an additional loan-loss provision reduced quarterly profit by 12%, to $47.8 million.

DNB Financial to Buy East River Bank in Pennsylvania

American Banker

DNB Financial in Downington, Pa., has agreed to buy East River Bank of Philadelphia. breaking_news community-banking pa m-a dealmaking-strategy

CFPB files amicus brief in Third Circuit supporting PA AG

CFPB Monitor

Court of Appeals for the Third Circuit in the Pennsylvania Attorney General’s lawsuit against Navient Corp. The CFPB filed its lawsuit against Navient in January 2017 in the federal District Court for the Middle District of Pennsylvania.

Pennsylvania banking department to promote awareness on virtual currencies

The Paypers

(The Paypers) Pennsylvania Banking and Securities Department has revealed an update on Consumer Financial Protection Initiative

Leader of PA AG’s Consumer Financial Protection Unit describes active agenda in Ballard Spahr webinar

CFPB Monitor

Nicholas Smyth, Assistant Director of the Pennsylvania Attorney General’s Bureau of Consumer Protection, was our guest speaker for a webinar yesterday. CFPB Enforcement CFPB Monitor State CFS Monitor State Enforcement CFPB pennsylvania attorney general smyth

Developments at the PA Attorney General’s Bureau of Consumer Protection

CFPB Monitor

With the creation of a Consumer Financial Protection Unit as one of his early actions, Pennsylvania Attorney General Josh Shapiro made clear his intention to pursue an aggressive pro-consumer agenda. The Widener Law Commonwealth Law and Government Institute and the Business Advising Program recently announced that Mr. Smyth will be giving a lecture on March 19, 2019 in Harrisburg, PA at a program titled “Consumer Financial Protection in Pennsylvania: Student Borrowers and Beyond.”

Tech Center: Pittsburgh Takes On Tech

PYMNTS

Tech Center Amazon Andy Warhol big mac carnegie mellon university entrepreneurs Facebook fundraising Google IAM Robotics Innovation Innovation Works Investment McDonald's Midwest Mr. Rogers News Pennsylvania Pittsburgh series A funding tech hub Tom GalluzzoPittsburgh has contributed a plethora of everyday items and services that many may take for granted.

Malls Contend With Store Closings In The First Quarter

PYMNTS

saw success in the first quarter and how The Pennsylvania Real Estate Investment Trust slipped slightly short of estimates. The Pennsylvania Real Estate Investment Trust (PREIT) narrowly missed first-quarter earnings expectations, reporting earnings per share of $0.29 Retail earnings factory outlet malls News Pennsylvania Real Estate Investment Trust QSRs shopping shopping centers stocks store closures Tanger Factory Outlet Centers What's Hot Yum!

Chrome Credit Union Looks to the Future with Nymbus Core

Bank Innovation

A small credit union in western Pennsylvania is making an investment that would strike fear into the hearts to bankers everywhere: core replacement.